JAKARTA - PT Metropolitan Land Tbk (MTLA) has allocated capital expenditure (capex) of Rp 600 billion in 2020. This amount lower by 14.28% compared to capital expenditure in 2019 of Rp 700 billion.
"This year's capital expenditure is Rp 600 billion," said Metropolitan Land Finance Director Olivia Surodjo as quoted from Bisnis.
The plan is that this year MTLA will launch a new cluster in one of the company's projects. The joint project with Keppel Land Limited is located in Cakung.
In addition to the cluster, MTLA also has a hotel project in Majalengka, West Java. The 110-room hotel is still in its first phase and the company has allocated Rp 110 billion for its development. (LM)